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Saturday, November 23, 2024

Vermont's miscellaneous tax revenues up 22.6% in Q2 2023

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Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont Tax Commissioner Craig Bolio | Vermont Department of Taxes

Vermont collected $38 million in miscellaneous tax revenue during the second quarter of 2023, a 22.6% increase over the previous quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Miscellaneous tax revenue reached $31 million in the previous quarter.

Net sales reflect companies' total revenue stream, minus the costs of discounts, allowances and product returns.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Q2 2023 Vermont Tax Collections

Type of TaxAmount (millions)
Property Taxes$1,114
Sales and Gross Receipts Taxes$354
Income Taxes$506
License Taxes$38
Miscellaneous Taxes$38

Source: U.S. Census Bureau

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